Hedge funds are finally starting to believe in the stock market's latest rally, but one analyst warns that any move higher will be fleeting
US stocks have so far turned a new leaf in 2023, and hedge fund investors are starting to take notice, according to Ned Davis Research.is up 3% year-to-date, and is up 13% from its mid-October low. Over that same time period, short positioning among hedge funds and leveraged funds has fallen, according to a Wednesday note from NDR.
"Institutional investors have been covering their shorts and have their biggest net long position since May 2022," NDR said."While still below the long-term average of 12.7%, it represents a stark change from six months ago." But as asset managers start to buy into the latest stock market rally, technical analyst Katie Stockton of Fairlead Strategies warns that any further rally in equities could be fleeting. That's because the S&P 500 is heading towards a very important resistance level at the psychologically round threshold of 4,000.
While she admits upcoming catalysts could spark a further rally in stock prices this week, the jump higher should be short lived.and Friday's bank earnings, and if they instill a rally, we expect it to fail around initial resistance near 4,000," Stockton said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Asian Stock Market: Traces sluggish S&P 500 Futures to flash mixed signals, yields retreatAsian Stock Market: Traces sluggish S&P 500 Futures to flash mixed signals, yields retreat – by anilpanchal7 Asia Equities CentralBanks Inflation Growth
Consulte Mais informação »
S&P 500 could sink another 22%, Morgan Stanley warnsMorgan Stanley analysts have warned the U.S. stock market could plunge by another 22% this year because investors are underestimating corporate earnings.
Consulte Mais informação »
S&P 500 Futures retreat as Treasury bond yields pause two-day downtrend, Fed Chair Powell eyedS&P 500 Futures retreat as Treasury bond yields pause two-day downtrend, Fed Chair Powell eyed – by anilpanchal7 SP500 Futures YieldCurve Fed Inflation
Consulte Mais informação »
S&P 500 near flat as investors weigh chances of less aggressive rate hikesThe S&P 500 index erased early gains to close nearly flat on Monday as expectations that the Federal Reserve will become less aggressive with its interest rate hikes were offset by lingering worries about inflation.
Consulte Mais informação »
Georgia repeats as national champion, routing TCU, 65-7The Bulldogs put up over 500 yards of total offense in a dominant performance.
Consulte Mais informação »